WTI Crude Oil: Elliott wave evaluation and forecast for twenty-four.01.25 – 31.01.25

2025.01.24 2025.01.24
WTI Crude Oil: Elliott Wave Evaluation and Forecast for twenty-four.01.25 – 31.01.25

Alex Geutahttps://www.litefinance.org/weblog/authors/alex-geuta/

Main Takeaways

• Foremost state of affairs: Take into account lengthy positions from corrections above the extent of 72.72 with a goal of 85.00 – 94.97. A purchase sign: the value holds above 72.72. Cease Loss: under 72.00, Take Revenue: 85.00 – 94.97.
• Various state of affairs: breakout and consolidation under the extent of 72.72 will enable the pair to proceed declining to the degrees of 66.65 – 61.50. A promote sign: the extent of 72.72 is damaged to the draw back. Cease Loss: above 73.20, Take Revenue: 66.65 – 61.50.

Foremost Situation

Take into account lengthy positions from corrections above the extent of 72.72 with a goal of 85.00 – 94.97.

Various Situation

Breakout and consolidation under the extent of 72.72 will enable the asset to proceed declining to the degrees of 66.65 – 61.50.

Evaluation

The descending correction seems to proceed forming because the second wave of bigger diploma (2) on the weekly chart, with wave B of (2) creating as its half. Apparently, wave b of B has completed forming on the each day time-frame, whereas wave с of В remains to be in progress. The H4 time-frame exhibits the primary wave of smaller diploma (i) of c unfolding, inside which the native corrective wave iv of (i) is nearing completion. If the presumption is right, WTI will proceed to rise to the degrees of 85.00 – 94.97. The extent of 72.72 is vital on this state of affairs as a breakout will allow the value to proceed falling to the degrees of 66.65 – 61.50.

This forecast relies on the Elliott Wave Concept. When creating buying and selling methods, it’s important to think about elementary elements, because the market scenario can change at any time.

Worth chart of USCRUDE in actual time mode